2/12/2024 0 Comments Water hose connector shark tank![]() Although the H圜onn website is still up and running, there are no products available for purchase.Īt the time of this writing, it’s unclear if the company is still in business, but if we learn anything new, we’ll be sure to let you know. Unfortunately, our H圜onn update shows that the deal never happened due to Mark introducing changes Jeff wasn’t ready to accept. How do you think this worked out for Jeff following Shark Tank? Keep reading our H圜onn update to learn more. Kevin tried to sway Jeff’s opinion, but he finally accepted Mark’s offer of $1.25 million for 100% of the company, a three-year employment agreement of $100,00 a year, and 7.5% in royalty. Kevin said he wouldn’t change his offer at all, and in response, Mark completed his offer by adding the 7.5% royalty. Robert considered that too generous, so for that reason, he went out. ![]() ![]() Robert then asked what Jeff thought of Mark’s offer, and Jeff said he wanted to know the long-term percentage, and that he’d actually prefer 7.5% royalty. This made Kevin offer $500,000 for 100% of the garden hose connectors, with 5% royalty in perpetuity. Further, he also offered a percentage of the profits once certain stipulations were met. Mark Cuban particularly liked this development so much, he put a big offer on the table: $1.25 million for 100% of the company, with a three-year employment agreement at $100,000 per year to run the business. He said he hadn’t made them yet because he was first focusing on the fire departments. Robert asked why he wasn’t instead making hose connections for typical hoses, and nonetheless, Jeff brought out a prototype for one. Jeff said he already had an offer to introduce it in their product lines, but they wanted him to have $500,000 altogether in capital for it.ĭaymond John said that proved the distributors didn’t fully believe in the product, and for this reason he went out.īarbara went out also, because she didn’t think departments would be able to budget for it. He wondered if Jeff had conversations yet with direct distributors. Meanwhile, Kevin O’Leary found it a negative that the government was the market for the product. Robert asked how much they were selling for, and Jeff said the smaller ones were selling for $215, while the larger connections were $385. Jeff said that of the fire departments he’d spoken to, four were actually ready to give him purchase orders, while six were preparing paperwork. However, Robert Herjavec and Barbara Corcoran were ultimately worried about fire departments having budgets for these purchases. They all demonstrated the efficiency of the H圜onn, versus the standard connections and intrigued the sharks. ![]() Jeff entered the tank accompanied by two firefighter colleagues. Result: $1.25 million for 100% of the company, plus a 3 year work agreement, and 7.5% royalty.Business: Fast connection for water hydrants.$500,000 for 100% of the company, with 5% royalty in perpetuity. Shark:Īccepted deal for $1.25 million for 100% of the company, plus a 3 year work agreement, and 7.5% royalty It’s very possible that the company is out of business, but it’s unclear at the time of this writing. Further, although the website is still active, there are no products to purchase. The deal was for $1.25 million, and 100% equity of the company, but it never closed. Jeff Stroope appeared on Shark Tank Season 2, and made a deal with Mark Cuban. If you’re short on time, here’s a quick overview of what happened to H圜onn after Shark Tank! Will a shark invest in his company? Find out in our H圜onn update. Jeff aims to reduce time wasted on getting water. H圜onn makes a connection for hoses, that basically attaches within seconds to a water hydrant. Entrepreneur and firefighter, Jeff Stroope, pitched his water hydrant attachment during Shark Tank Season 2.
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